whitehouse meeting with the banks

there is a story at politico.. I do like Clusterlemming for pushing me toward some of the things that are Viral. since I tend to get caught up in a bit of my own wallstreet bubble.... So I offer Snippets... with my own bold comments.

...CEOs... offered several explanations for paying high salaries to their employees — and,... themselves....

“These are complicated companies,” “We’re competing for talent on an international market.” ...

Barack Obama ... “Be careful how you make those statements, gentlemen. The public isn’t buying that.”

You know, it's like they are 14 years old. Either that or they ain't used to being accountable, and feel Entitled to the money. Imagine that bankers feel Entitled.

“My administration,” the president added, “is the only thing between you and the pitchforks.”

“The only way they could have sent a more Spartan message is if they had served bread along with the water,” says a person who attended the meeting. “The signal from Obama’s body language and demeanor was, ‘I’m the president, and you’re not.’”

The amusing part is how that has to be pointed out to them. Somehow they are under the impression that they are the president. I guess a nice message like, I can have your job.. was probably needed. All of this also is well represented in the post meeting where the bankers felt they needed to push their cause harder. I'm surprised we haven't seen bank commercials, like the oil companies.... Citi, we arn't just a bank, we are beyond banking... We are a "help famlies make a home company"

The president spoke of public outrage over the high-flying executive lifestyle. “The anger gentlemen, is real,” Obama said. He urged pay reform and said rewards must be proportional, balanced, and tied to the health and success of the company.

That is Novel!!!

JPMorgan’s Dimon spoke first. ..And he said his industry needs to explain more directly to the American people that the economic recovery plans are already working. Dimon also insisted that he’d like to give the government’s TARP money back as soon as practical, and asked the president to “streamline” that process.

I just hope they don't give up the Warrents. And BTW, Lord help anyone who needs anymore help.

It had been a landmark day in the history of American capitalism. Unbeknownst to the financial executives, General Motors CEO Rick Wagoner was also on Pennsylvania Avenue that day, meeting with Obama’s auto bailout task force. Although the finance CEOs got a meeting with the president, Wagoner saw only Obama’s senior advisor Steven Rattner at the Treasury Department. During the meeting, Rattner demanded Wagoner’s resignation.